Twelve Centennial Condos - Changes in Financing Options
Condos for Sale in Twelve Centennial
In 2013 I sold a unit in Twleve Centennial that was financed using an FHA loan. The transaction was a little rough, but we got it done.
This year we obtained a new listing in Twelve Centennial (a very nice two bedroom with a downtown view), and we assumed that FHA financing was still available to potential buyers.
After reading Thom Abbot's featured post, I was prompted to check on the status of Twelve Centennial. Well it turns out that Twelve Centennial is not currently approved for FHA financing. I went to the HUD condo approval website to get this information.
After checking the HUD condo approval website, it looks as though Twelve Centennial (legal name is 400 West Peachtree Residential) is on hold as of April 7, 2014.
The website states that the documentation submitted was insufficient. Hopefully the management company over Twelve Centennial gets this corrected so that FHA financing becomes an available option again.
Without FHA financing availability, buyers are left with the following financing options.
- All cash with no financing involved
- Conventional financing with a minimum of five percent down
- Seller financing if the seller does not have a mortgage on the unit
For more information about purchasing your next condo in Twelve Centennial, please contact Joseph at 404 907 1646. Thank you!
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